<p><span style="font-weight: 400;">NFT marketplace OpenSea has partnered with the U.S. record label Warner Music Group. </span></p> <p><span style="font-weight: 400;">Artists who signed under Warner Music Group will have their own drop pages on OpenSea in an attempt to bolster fan engagement and build community, according to a Warner Music Group </span><a href="https://www.wmg.com/news/warner-music-group-and-opensea-join-forces-to-expand-web3-opportunities-for-artists"><span style="font-weight: 400;">release</span></a><span style="font-weight: 400;">. </span></p> <p><span style="font-weight: 400;">“As a massive music fan myself, I’m thrilled to work with a partner who understands the significance of this technology, and wants to use it for good — to empower artists to own their fan connections directly,” OpenSea’s Vice President of Product Shiva Rajaraman said in the statement. </span></p> <p><span style="font-weight: 400;">Warner Music Group partnering with OpenSea follows other developments the music NFT ecosystem saw in 2022. </span></p> <p><span style="font-weight: 400;">In February, </span><a href="https://www.theblock.co/linked/134621/music-major-universal-to-develop-nft-fan-collection"><span style="font-weight: 400;">Universal Music Group</span></a><span style="font-weight: 400;"> partnered with the entertainment NFT platform Curio to drop digital assets for the record label. Music streaming giant </span><a href="https://www.theblock.co/post/147064/spotify-starts-trialing-nfts-on-its-platform-music-ally-reports"><span style="font-weight: 400;">Spotify</span></a><span style="font-weight: 400;"> announced in May that it will begin trialing NFTs on its platform. </span></p> <p><span style="font-weight: 400;">NFTs can offer certain perks to performance artists, such as letting artists generate recurring revenue </span><span style="font-weight: 400;">through royalties and allowing their work to be used in virtual worlds, founder of the music NFT platform HitPiece </span><a href="https://www.theblock.co/post/162799/after-a-rocky-beta-launch-music-nft-platform-hitpiece-is-prioritizing-ownership-rights"><span style="font-weight: 400;">Rory Felton</span></a><span style="font-weight: 400;"> previously told The Block. </span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>